The cryptocurrency fell from $6.80 to around $5.35, according to CoinMarketCap data, a 20.49 percent decline in the last 24 hours, indicating the cryptocurrency’s continued close relationship with Telegram.
TonCoin is a blockchain platform that was initially developed by Telegram in 2018 to provide fast transactions, scalability, and ease of use for decentralized applications, but the project faced regulatory hurdles that led to the app officially stepping away from cryptocurrency development in 2020. $TON